Reserve Bank of New Zealand Governor Orr continuing to speak.
- If there was a negative economic shock we will increase monetary policy easing
Well, yeah ... that's what central bankers do. Orr is not going shut down any options he has, keeping them open. The main message from Orr is that if economic developments proceed as the RBNZ expects then there will be policy tightening from about mid to late 23022.
Earlier today from Orr:
- RBNZ's Orr says the New Zealand labour market has been very resilient
- RBNZ Gov. Orr says the Bank is willing to lower interest rates if necessary
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Previous posts on the RBNZ MPS for May 2021, ICYMI (read from the bottom up for chronology):
- RBNZ Gov Orr: Says inflation pressures expected to be temporary
- Reserve Bank of New Zealand Governor Orr press conference - live link
- RBNZ monetary policy meeting minutes
- NZD marked higher in the wake of the RBNZ monetary policy statement
- RBNZ leave policy unchanged, as expected
And, more:
